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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
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- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
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- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
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- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
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- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
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- Kepco SPC Power Corporation, Philippines
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- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
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- Chettinad Cement Corporation Ltd - India
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- McConnell Dowell - Australia
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- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
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- Meralco Power Generation, Philippines
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- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
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- Minerals Council of Australia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
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- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
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- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
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- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
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- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
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- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
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- Timah Investasi Mineral - Indoneisa
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- Chamber of Mines of South Africa
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